Core Insights - The asset allocation performance for Q3 2025 showed positive returns across all risk profiles, with the aggressive portfolio achieving the highest return of 12.50% [1][7][10] - The analysis indicates that equity and gold contributed significantly to the overall positive performance, while bonds experienced negative returns [10][12] Asset Performance Summary - In Q3 2025, the A-share market outperformed with a 17.9% increase in the CSI 300 index, while the Hang Seng Index rose by 11.6% [5][6] - The U.S. stock market also saw gains, with the Nasdaq leading at 11.2% [5][6] - Gold prices increased by 16.8%, driven by multiple favorable factors including high inflation and a renewed interest in gold as a safe haven [5][6] - Conversely, the oil market faced challenges, with WTI crude oil prices declining by 2.9% due to weak demand and increased production [5][6] Risk and Return Analysis - The annualized volatility for the conservative to aggressive portfolios ranged from 1.78% to 10.27%, with maximum drawdowns between -0.39% and -3.35% [7][9] - The aggressive portfolio's performance lagged behind the CSI 300 ETF by 6.56 percentage points but outperformed the 10-year government bond by 13.17 percentage points [7][8] Investment Strategy and Asset Selection - The recommended ETFs for various portfolios include Huatai-PB CSI 300 ETF, Huaxia Hang Seng Technology ETF, and others, with specific weightings for equity, bonds, and commodities [3][12][13] - The conservative portfolio allocated 10.16% to equities, 70.01% to bonds, and 4.82% to commodities, while the aggressive portfolio allocated 57.44% to equities [3][12][13] Future Outlook - For Q4 2025, the expected asset performance ranking is: Hong Kong stocks > A-shares > gold > U.S. stocks > U.S. bonds > domestic bonds > oil [19][21] - The focus for investment will be on sectors aligned with the "14th Five-Year Plan" and "anti-involution" policies, particularly in AI, robotics, new energy, and metals [18][21]

Market Overview - On October 15, the A-share market opened slightly higher, initially dipped into the red, and then quickly rebounded, with all three major indices turning positive by the time of reporting [1] - The Hong Kong stock market also opened collectively higher, with all three indices rising over 1% [2] Industry Performance - The retail, beauty care, building materials, and non-ferrous metals sectors saw collective gains, while e-commerce, cement manufacturing, and cybersecurity stocks were active [2] - The defense and military sector underperformed, with stocks related to photolithography and photovoltaic inverters declining [2][8] Notable Stocks - In the building materials sector, stocks like Yao Pi Glass and Jianlang Hardware experienced significant gains, with Yao Pi Glass rising by 9.98% [5] - The non-ferrous metals sector remained active, with stocks such as Shenghe Resources and Zhao Jin Gold seeing notable increases, including Shenghe Resources hitting the daily limit with a 10% rise [4][3] Software Sector Activity - The domestic software sector was active, with stocks like Jiuqi Software and Geer Software reaching their daily limits, both increasing by around 10% [6][7] Defense and Photolithography Sector Decline - The defense and military sector saw significant declines, with North China Long Dragon dropping over 10% and several other stocks experiencing substantial losses [8][9] - Photolithography-related stocks collectively fell, with companies like Xinlai Materials and Aopu Optoelectronics seeing declines of over 10% [10] Company Investigation - Ruiyi Group's stock hit the daily limit down, falling by 9.98% to 5.23 yuan per share after the company announced it received a notice from the China Securities Regulatory Commission regarding an investigation for suspected information disclosure violations [12]

Group 1: Investment Ratings - No investment ratings for the industry are provided in the report. Group 2: Core Views - The overnight LME copper price rose significantly, with the domestic market following suit. However, the spot import window remained closed, indicating cautious sentiment in the domestic market. The Fed official's support for two interest rate cuts this year and the US government's conciliatory remarks on Sino - US trade talks boosted market risk appetite and drove up non - ferrous metal prices. Copper prices may maintain a relatively strong trend due to the ongoing impact of the Indonesian mine accident, but the probability of exceeding the previous domestic historical high is low [1]. - Alumina showed a weak and volatile trend, while aluminum and aluminum alloy showed a strong and volatile trend. Alumina is generally bearish but may be bottoming out. The aluminum price is expected to maintain a relatively strong pattern, and whether it can rise further depends on the improvement of demand [1][2]. - Nickel prices are expected to fluctuate widely. The nickel ore market is relatively stable, but policy risks in Indonesia need to be watched out for. The nickel - iron and stainless - steel industries and the new energy industry also have different trends [2]. Group 3: Summary by Directory 1. Research Views - **Copper**: Overnight LME copper rose, and the domestic market followed. LME copper inventory decreased by 50 tons to 139,395 tons, Comex copper inventory increased by 1,224 tons to 309,239 tons, SHFE copper warehouse receipts increased by 2,926 tons to 32,890 tons, and BC copper decreased by 75 tons to 7,018 tons. High copper prices led to a decline in downstream orders and a slowdown in spot procurement, and social inventory increased. Copper prices may be strong but have a low probability of exceeding previous domestic highs [1]. - **Aluminum**: Overnight, alumina was weakly volatile (AO2601 closed at 2,897 yuan/ton, down 0.64%), aluminum was strongly volatile (AL2510 closed at 20,975 yuan/ton, up 0.55%), and aluminum alloy was strongly volatile (AD2511 closed at 20,490 yuan/ton, up 0.52%). Alumina prices fell, and the profit of alumina plants was further compressed. The aluminum price is expected to be strong, and the follow - up trend depends on demand improvement [1][2]. - **Nickel**: Overnight, LME nickel fell 0.23% to 15,180 US dollars/ton, and Shanghai nickel fell 0.34% to 121,240 yuan/ton. LME inventory increased by 4,716 tons to 242,094 tons, and domestic SHFE warehouse receipts increased by 44 tons to 25,272 tons. The nickel ore market is relatively stable, but policy risks in Indonesia need attention. Nickel prices are expected to fluctuate widely [2]. 2. Daily Data Monitoring - **Copper**: On October 13, 2025, the price of flat - water copper was 85,010 yuan/ton, down 1,645 yuan from October 10. LME inventory decreased by 50 tons, SHFE warehouse receipts increased by 2,926 tons, and social inventory increased by 36,000 tons [3]. - **Lead**: The average price of 1 lead was 17,030 yuan/ton on October 13, up 50 yuan from October 10. LME inventory remained unchanged, and SHFE inventory decreased by 1,978 tons [3]. - **Aluminum**: On October 13, the Wuxi quotation was 20,800 yuan/ton, down 180 yuan from October 10. LME inventory decreased by 2,825 tons, SHFE warehouse receipts increased by 4,032 tons, and social inventory increased slightly [4]. - **Nickel**: On October 13, the price of Jinchuan nickel plate was 123,675 yuan/ton, down 1,350 yuan from October 10. LME inventory increased by 4,716 tons, SHFE nickel warehouse receipts increased by 44 tons, and social inventory increased by 2,866 tons [4]. - **Zinc**: The main settlement price on October 13 was 22,285 yuan/ton, down 0.4% from October 10. LME inventory decreased by 475 tons, and social inventory increased by 17,300 tons [6]. - **Tin**: The main settlement price on October 13 was 283,550 yuan/ton, down 1.7% from October 10. LME inventory decreased by 25 tons, and SHFE inventory decreased by 550 tons [6]. 3. Chart Analysis - **Spot Premium**: Charts show the spot premium trends of copper, aluminum, nickel, zinc, lead, and tin from 2019 - 2025 [8][10][11]. - **SHFE Near - Far Month Spread**: Charts show the near - far month spread trends of copper, aluminum, nickel, zinc, lead, and tin from 2020 - 2025 [15][18][21]. - **LME Inventory**: Charts show the LME inventory trends of copper, aluminum, nickel, zinc, lead, and tin from 2019 - 2025 [23][25][27]. - **SHFE Inventory**: Charts show the SHFE inventory trends of copper, aluminum, nickel, zinc, lead, and tin from 2019 - 2025 [29][31][33]. - **Social Inventory**: Charts show the social inventory trends of copper, aluminum, nickel, zinc, stainless steel, and 300 - series stainless steel from 2019 - 2025 [35][37][39]. - **Smelting Profit**: Charts show the smelting profit - related trends of copper, aluminum, nickel, zinc, and stainless steel from 2019 - 2025, including copper concentrate index, rough copper processing fee, etc. [42][44][48]. 4. Non - Ferrous Metals Team Introduction - Zhan Dapeng, a master of science, is the director of non - ferrous research at Everbright Futures Research Institute, a senior researcher of precious metals, etc. He has more than ten years of commodity research experience [51]. - Wang Heng, a master of finance from the University of Adelaide, Australia, is a non - ferrous researcher at Everbright Futures Research Institute, mainly researching aluminum and silicon [51]. - Zhu Xi, a master of science from the University of Warwick, UK, is a non - ferrous researcher at Everbright Futures Research Institute, mainly researching lithium and nickel [52].

新能源及有色金属周报 | 2025-10-12 矿端扰动减弱，短期消费支撑价格 市场分析 现货市场 价格方面：碳酸锂期货本周维持震荡运行，主力合约2511本周五收于 72740元/吨，本周跌幅为0.08%，持仓量为 221919吨。SMM电池级碳酸锂均价73,550元/吨；工业级碳酸锂均价71,300元/吨，现货价格基本持平。现货成交稍 有好转，但多数观望为主。截至本周五，所有合约总持仓 68.17万手。截至本周五，碳酸锂当日仓单 42379 手， 仓单数量较多。 供应端：据 SMM 统计，周度产量小幅增加，周度总产量 2.06 万吨，环比增加 119 吨，其中辉石产碳酸锂 13064 吨，环比增加 75吨，云母产碳酸锂2695 吨，环比减少145 吨，盐湖产碳酸锂 2904 吨，环比增加 141 吨，回收产 碳酸锂 1972吨，整体来看，供应端仍保持较高水平。 消费端：据百川数据，磷酸铁锂产量环比降低0.04%，三元材料环比增加0.48%。钴酸锂环比增加0.12%，锰酸锂环 比增长5.64%。下游排产维持增量预期。终端动储双增，下游需求维持高位，但节后下游散单采购需求较弱，多观 望市场走势，仅少数刚需采购， ...

Report Industry Investment Ratings - **Macro Finance**: Bullish in the medium to long term for stock indices; hold a wait - and - see attitude for treasury bonds [1][5] - **Black Building Materials**: Range trading for coking coal and rebar; buy on dips for glass [1][7][9] - **Non - ferrous Metals**: Hold long positions on dips for copper; wait for a pullback and then go long for aluminum; wait and see or go short on rallies for nickel; buy on dips for tin, gold; range trading for silver [1][12][14] - **Energy Chemicals**: PVC, caustic soda, styrene, rubber, urea, methanol are expected to oscillate; wide - range oscillation for polyolefins; bearish on 01 contract for soda ash [1][23][25][28] - **Cotton Textile Industry Chain**: Cotton, cotton yarn and PTA are expected to oscillate; apples and jujubes are expected to oscillate [1][37][38] - **Agricultural and Animal Husbandry**: Go short on rallies for pigs and eggs; wide - range oscillation for corn; range oscillation for soybean meal; oscillate with an upward bias for oils [1][41][43][50] Core Views - A - share market is expected to rise with the support of policies, Fed rate - cut expectations and RMB appreciation. Treasury bond market needs to wait for the return of allocation forces [5] - Black building materials market is affected by factors such as coal production, imports and demand. Glass may be supported by real - estate demand in October [7][8][10] - Non - ferrous metals market is influenced by supply disruptions, production cuts, and demand trends. Copper and tin prices are likely to be supported by supply shortages [12][14][19] - Energy chemicals market is facing challenges such as high supply, weak demand, and uncertain exports. PVC and other products are expected to oscillate [24][26][28] - Cotton textile industry chain is affected by global supply - demand changes and seasonal factors. Cotton and PTA prices may be under pressure [37][38] - Agricultural and animal husbandry market is influenced by supply - demand imbalances and policy factors. Pig and egg prices are expected to be weak in the short term [41][43] Summary by Categories Macro Finance - **Stock Indices**: A - share indices rose, with the Shanghai Composite Index above 3900. The market is expected to rise in the medium term due to policies, Fed rate - cut expectations and RMB appreciation. Suggest to buy on dips [5] - **Treasury Bonds**: Market volatility was large before the holiday. Whether the long - end and ultra - long - end interest rates can stabilize depends on the return of allocation forces. Hold a wait - and - see attitude [5] Black Building Materials - **Double - Coking**: During the National Day, some coal mines in Shanxi had short - term production cuts, and Mongolian coal imports are expected to increase after the holiday. Coke's first - round price increase was implemented, but the second - round failed. The market is expected to oscillate [7][8] - **Rebar**: Futures prices were oscillating. The current valuation is low, but the demand is still weak. The price is expected to be weak first and then strong in October. Suggest to pay attention to the opportunity to go long around 3000 for RB2601 [8] - **Glass**: The spot price increased, and the inventory decreased. The real - estate demand in October may support the price weakly. Suggest to hold existing long positions and buy on dips, paying attention to the support at 1190 - 1200 for the 2601 contract [10] Non - ferrous Metals - **Copper**: Supply was disrupted due to a mine accident in Indonesia, and domestic production is expected to decline. The demand may improve in October. With low inventory, the price is expected to remain high. Suggest to hold long positions on dips [12][13] - **Aluminum**: Alumina supply is relatively loose, and electrolytic aluminum production is stable. The demand is in the peak season. Suggest to hold long positions and consider the arbitrage strategy of going long AD and short AL [14] - **Nickel**: The new RKAB policy in Indonesia brings uncertainty to the supply. The medium - long - term supply is in surplus. Suggest to wait and see or go short on rallies [19] - **Tin**: Supply is tight due to mine closures in Indonesia. The semiconductor industry is recovering. The price is expected to be supported. Suggest to build long positions on dips [19] - **Silver and Gold**: Affected by factors such as delayed non - farm data and Fed rate - cut expectations, the prices are expected to continue the upward trend. Suggest to hold existing long positions and build new long positions on dips after the holiday [22] Energy Chemicals - **PVC**: Supply is high, demand is weak, and exports are uncertain. The price is expected to oscillate in the short term, with the 01 contract focusing on 4700 - 4900 [24] - **Caustic Soda**: The increase in warehouse receipts pressured the market. The overall expectation is to oscillate, with the 01 contract focusing on 2380 - 2530 [26] - **Styrene**: The cost is under pressure, the inventory is high, and the demand is limited. The price is expected to oscillate weakly, focusing on 6700 - 6900 [28] - **Rubber**: The market is affected by supply and demand factors. The price is expected to oscillate in the short term, focusing on the support at 15500 [30] - **Urea**: Supply increased, agricultural demand was scattered, and the enterprise inventory continued to accumulate. The market is expected to be weak in the short term [32] - **Methanol**: Supply recovered, the demand for methanol - to - olefins increased, and the inventory decreased. The short - term market is expected to be weak [33] - **Polyolefins**: Supply pressure was relieved during the maintenance season, but the demand was still weak. The PE and PP contracts are expected to oscillate weakly, focusing on the support at 7000 and 6700 respectively [34] - **Soda Ash**: Supply is abundant, demand is flat, and the upstream may face inventory accumulation pressure after the holiday. Adopt a bearish strategy for the 01 contract [36] Cotton Textile Industry Chain - **Cotton and Cotton Yarn**: Global cotton supply and demand are expected to increase, but the long - term pressure is still large. Maintain a bearish view in the medium term [37] - **PTA**: Crude oil prices declined, and PTA inventory increased. The price is expected to oscillate in the range of 4500 - 4750 [38] - **Apples**: Due to continuous rain, the red fruit supply was delayed. The current price reference is limited. Pay attention to the price performance after the increase in supply [39] - **Jujubes**: The market purchase and sales were flat during the holiday. The new - season jujubes in Xinjiang are about to be harvested. Pay attention to the purchase price [40] Agricultural and Animal Husbandry - **Pigs**: Supply increased, demand was limited, and the price continued to decline. The short - term is expected to be weak, and the long - term supply before next year's first half will be high. Suggest to go short on 11, 01, 03, 05 contracts and pay attention to the arbitrage of going long 05 and short 03 [41][43] - **Eggs**: Demand decreased after the holiday, and the price is expected to be weak. Suggest to partially close short positions for the 11 contract and wait for the spot price guidance; wait and see for the 12 and 01 contracts and go short on rallies [44] - **Corn**: New grain is about to be listed, and the price is under seasonal pressure. The long - term supply and demand are expected to be stable and weak. Suggest to go short on rallies for the 11 contract and pay attention to the 1 - 5 reverse arbitrage [46] - **Soybean Meal**: US soybeans are under harvest pressure, and domestic supply is abundant. The price is expected to oscillate weakly. Pay attention to the support of the M2601 contract at 2900 - 2930 [49] - **Oils**: The price is expected to rise slightly after the holiday, following the external market. Suggest to buy on dips for the 01 contracts of soybean, palm and rapeseed oils and temporarily stop the positive arbitrage strategy for the rapeseed - soybean oil price difference [56]

Market Sentiment - The current market sentiment score is 86, indicating an "overheated" market condition, which suggests a high level of investor optimism [5][9][20] Hot Themes Tracking - **Artificial Intelligence**: Alibaba's CEO announced a significant investment of 380 billion yuan in AI infrastructure, positioning AI as the next generation operating system. Related stocks include Industrial Fulian (601138) and Zhongji Xuchuang (300308) [5] - **Non-ferrous Metals**: The Grasberg mine in Indonesia has delayed its reopening to mid-2026 due to a landslide, raising concerns over copper supply and driving up international copper prices. Domestic copper smelting competition is leading to low processing fees, prompting calls for self-discipline in production cuts. Related stocks include Zijin Mining (601899) and Jiangxi Copper (600362) [5] - **Energy Storage**: The domestic "New Energy Storage Special Action Plan" aims for 180 million kilowatts of installed capacity by 2027, attracting 250 billion yuan in direct investment. Policies are expected to boost project IRR above 8%. Overseas orders surged by 220% year-on-year in the first half of 2025, reaching 160 GWh. Related stocks include CATL (300750) and Sungrow Power (300274) [5] Capital Flow Analysis - **Net Inflow**: The top net inflow stocks include ZTE Corporation (000063) with 302.44 million yuan, Hikvision (002415) with 137.65 million yuan, and BYD (002594) with 86.33 million yuan [10] - **Financing Net Purchase**: The leading stocks in financing net purchases are ZTE Corporation (000063) with 144.86 million yuan and New Eslon (300502) with 132.99 million yuan [12] - **Net Outflow**: The stocks with the highest net outflow include Sungrow Power (300274) with -183.01 million yuan and New Eslon (300502) with -118.16 million yuan [13] Industry Overview - The non-ferrous metals industry is experiencing upward price movements due to supply concerns and competitive pressures within the domestic copper smelting sector [5] - The energy storage sector is poised for significant growth driven by government policies and increasing demand for capacity, with a notable increase in overseas orders [5]

Group 1 - The Ministry of Commerce and the General Administration of Customs announced export controls on lithium batteries and artificial graphite anode materials to safeguard national security and interests, effective from November 8 [1][2] - The export control measures are in line with international practices and aim to prevent the proliferation of dual-use items, with a focus on military applications [2][6] - Export applications to military users and those listed on control and watch lists will generally not be approved [3][6] Group 2 - The Ministry of Commerce confirmed that the decision to implement export controls on rare earth-related technologies was made after careful evaluation, addressing risks posed by illegal acquisition of technologies by foreign entities [6][7] - The government aims to maintain the stability of the global rare earth supply chain while fulfilling international obligations [6][7] - The Ministry of Commerce also placed certain foreign entities, including anti-drone technology companies, on an unreliable entity list, prohibiting them from engaging in import and export activities with China [10]

Market Overview - After the National Day holiday, A-shares resumed trading, and southbound funds returned, with Hong Kong's three major indices showing mixed results. The Hang Seng Index fell by 0.29% to 26,752.59 points, with a total turnover of HKD 38.68 billion [1] - CITIC Securities believes that the Hong Kong market benefits from a complete domestic AI industry chain and the increasing number of quality A-share companies listing in Hong Kong. The firm expects the long bull market that began in early 2024 to continue despite short-term geopolitical and trade uncertainties [1] Blue Chip Performance - HSBC Holdings led blue-chip stocks, rising by 25.88% to HKD 149.8, contributing 36.11 points to the Hang Seng Index. HSBC announced plans to privatize Hang Seng Bank at a price of HKD 155 per share, a 30% premium over the previous closing price [2] - Other notable blue-chip movements included Lenovo Group up 7.26%, Zijin Mining up 5.43%, while China Biologic Products fell by 7.49% and SMIC dropped by 6.7% [2] Sector Highlights - Large technology stocks showed mixed results, with Kuaishou rising over 3% and Alibaba falling over 2%. Precious metals saw significant gains during the holiday, with gold, silver, copper, and aluminum prices rising sharply [3][4] - The AI sector experienced varied performance, with Lenovo and Bilibili seeing gains, while Alibaba faced a decline. The recent acceleration in AI investments and applications is expected to strengthen the narrative around the sector [4][5] Notable Stocks - Shanghai Electric surged by 17.4% after achieving a key breakthrough in nuclear fusion technology, positioning itself as a leader in this field [7] - Goldwind Technology rose by 8.43%, benefiting from its role in promoting green energy transitions [8] - Jinli Permanent Magnet reached a new high, increasing by 8.67%, following announcements of export controls on rare earth-related items by the Ministry of Commerce [9] - HSBC Holdings faced pressure, dropping by 5.97%, amid its announcement regarding the privatization of Hang Seng Bank [10]

Market Overview - The Shanghai Composite Index opened high and broke through the 3900-point mark, reaching its highest level since August 2015, with a closing increase of 1.32% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.65 trillion yuan, an increase of 471.8 billion yuan compared to the previous trading day [1] - The market saw a total of 99 stocks hit the daily limit up, with notable performances in the non-ferrous metals and nuclear power sectors [1] Sector Performance - The controllable nuclear fusion sector led the gains, with stocks like Westinghouse Electric, Hanhua Welding, and Shanghai Electric hitting the daily limit up [2] - Recent advancements in China's controllable nuclear fusion field, particularly the successful installation of a key component in the compact fusion energy experimental device (BEST), have catalyzed investor interest [2] - The non-ferrous metals sector remained strong, with stocks such as Precision Instrument and Jiangxi Copper also hitting the daily limit up, driven by significant price increases in gold, silver, copper, and aluminum during the recent holiday period [3] Individual Stock Highlights - The semiconductor sector experienced notable volatility, with stocks like SMIC and Huahong Semiconductor showing mixed performance, indicating profit-taking after previous gains [6] - Despite the overall positive market sentiment, over 30 stocks fell by more than 9%, highlighting the structural divergence within the market [6] Future Market Analysis - The market is expected to maintain a bullish trend, but the sustainability of this upward movement will depend on trading volume; a decrease in volume may lead to a consolidation phase [8] - Key sectors to watch include non-ferrous metals, semiconductor chips, AI industry chain, solid-state batteries, and humanoid robots, as market participants focus on sector rotation strategies [8]

Market Performance - On the first trading day of October, A-shares opened higher, with the Shanghai Composite Index surpassing 3900 points for the first time in ten years, closing at 3933.97 points, up 1.32% [1] - The Shenzhen Component Index rose by 1.47%, while the ChiNext Index increased by 0.73%, and the STAR Market 50 Index surged by 2.93% [1] - The total market turnover reached 2.67 trillion yuan, an increase of 474.6 billion yuan compared to the previous trading day, with over 3100 stocks rising and nearly 100 stocks hitting the daily limit [1] Sector Performance - Precious metals and gold sectors saw a surge, with multiple stocks like Zhaojin Mining and Zhongjin Gold hitting the daily limit due to rising international gold prices during the National Day holiday [1] - The controlled nuclear fusion sector experienced significant growth following recent milestone advancements, with Guoguang Electric hitting a 20% limit up [1] - The rare earth sector also rose due to export controls on related items, with stocks like Northern Rare Earth and Antai Rare Earth reaching their daily limits [1] - Other sectors such as small metals, non-ferrous metals, lithium mining concepts, and superconducting concepts showed strong performance [1] Declining Sectors - The tourism and hotel sector declined, with daily per capita consumption during the holiday dropping by 13% year-on-year, leading to a more than 8% drop in stocks like Caesar Travel [1] - The real estate service sector also faced losses, with Huangting International hitting the daily limit down [1] - The film and television sector weakened due to lower box office revenues compared to the previous year, with stocks like China Film and Hengdian Film hitting their daily limits down [1] - Other sectors such as duty-free, short drama concepts, and millet economy also experienced significant declines [1] Top Gainers and Fund Inflows - Precious metals topped the gainers list with a 9.28% increase, followed by basic metals at 6.52% and power generation equipment at 6.279% [2] - The electricity sector rose by 2.89%, while steel and coal sectors increased by 2.83% and 2.749% respectively [2]